Report Code: A08572 | Pages: NA | Mar 2023 | 1625 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Industrial Boilers Market
Request Now !Industrial boilers are closed vessels that produce steam through different types of fuels, such as oil & gas, fossil, non-fossil, and biomass in order to carry out industrial heating processes. The steam that is produced is transferred to the area of operation through pipes.
The technology used in industrial boilers has been constantly evolving as per its requirements in various industries. These boilers are designed to comply with the emission standards set by EPA, i.e. national emission standards pertaining to air pollutants released by industrial boilers. These industrial boilers are used by multiple industries, such as food & beverage, petrochemical, power, and chemical.Â
COVID-19 Impact
High disposable income and increase in population have increased the growth of numerous industries including textile, food & beverages, and FMCG. To fulfill the increase in demand, companies are not only expanding their existing manufacturing units but also setting up new industrial plants, which, in turn, is boosting the product demand.
Moreover, stringent laws to regulate harmful emissions in the environment are likely to boost the adoption rate of industrial boilers, in turn, triggering the demand for the product.
The Brazil market is expected to be the fastest growing over the forecast period due to rapid industrialization in the country, which has resulted in growing investments in numerous sectors including automotive, agribusiness, oil & gas, and renewable energy.
The global industrial boilers market is studied across major four regional markets including North America, Europe, Asia-Pacific, and LAMEA. Europe is expected to be the largest market over the coming years in response to several factors including rapid industrialization and growing industries including FMCG, food & beverages, and power. In addition, strict regulations established by the European government pertaining to harmful emissions in the environment is further expected to complement the growth of this region. Besides this, Asia-Pacific is expected to register significant growth due to development of mega power products and environmental protection laws and the increasing demand for food products. Mega power projects in developing countries, especially China and India, are likely to boost the demand for industrial boilers in Asia-Pacific.
Key benefits of the report:
Industrial Boilers Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
Aspects | Details |
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By Type of Fuel |
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By Industry Vertical |
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By Region |
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Key Market Players | IHI Corporation, AC Boilers, Dongfang Electric Corporation Ltd., Thermax Ltd., Siemens AG, Bharat Heavy Electricals Ltd., Babcock & Wilcox Enterprises, Inc., Mitsubishi Heavy Industries, Ltd., Harbin Electric Corporation, Forbes Marshall, Cheema Boilers Limited. |
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